OARS OF THUNDER COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
14194908 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 24 June 2022

End date: 30 June 2023

OARS OF THUNDER COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 June 2023

Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

OARS OF THUNDER COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 30 June 2023

2023


£
Turnover: 5,040
Cost of sales: 0
Gross profit(or loss): 5,040
Administrative expenses: ( 5,419 )
Operating profit(or loss): (379)
Profit(or loss) before tax: (379)
Profit(or loss) for the financial year: (379)

OARS OF THUNDER COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 June 2023

Notes 2023


£
Fixed assets
Tangible assets: 3 55,757
Total fixed assets: 55,757
Current assets
Cash at bank and in hand: 112
Total current assets: 112
Net current assets (liabilities): 112
Total assets less current liabilities: 55,869
Creditors: amounts falling due after more than one year: 4 ( 55,465 )
Accruals and deferred income: ( 783 )
Total net assets (liabilities): (379)
Members' funds
Profit and loss account: (379)
Total members' funds: ( 379)

The notes form part of these financial statements

OARS OF THUNDER COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 20 March 2024
and signed on behalf of the board by:

Name: Sally Jane Crabb
Status: Director

The notes form part of these financial statements

OARS OF THUNDER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Straight line depreciation with a useful economic of 7 years. The assumed sales value is £49,500.

OARS OF THUNDER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    2023
    Average number of employees during the period 0

OARS OF THUNDER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 57,300 57,300
Disposals
Revaluations
Transfers
At 30 June 2023 57,300 57,300
Depreciation
Charge for year 1,543 1,543
On disposals
Other adjustments
At 30 June 2023 1,543 1,543
Net book value
At 30 June 2023 55,757 55,757

OARS OF THUNDER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Creditors: amounts falling due after more than one year note

2023
£
Other creditors 55,465
Total 55,465

This is made up of amounts loaned by the four Directors.

COMMUNITY INTEREST ANNUAL REPORT

OARS OF THUNDER COMMUNITY INTEREST COMPANY

Company Number: 14194908 (England and Wales)

Year Ending: 30 June 2023

Company activities and impact

The company’s activities will provide benefit to designated charities, with the consent of the CIC Regulator, through fundraising and sponsorship to support the Worlds Toughest Row - Atlantic in December 2024. The monies raised through sponsorship packages will contribute to towards the direct costs of the row and monies made from the sale of all equipment post row and donations from the general public will go directly to our charities. The main designated charity is the Royal National Lifeboat Institution (RNLI).Large sponsors, both Individual and Corporate will have the option to select a specific charity for the proceeds from the sale of the equipment. This would be an option for platinum sponsorship packages only.The RNLI is the specific charity that will benefit from fundraising and sponsorship activities. The proceeds from the sale of any equipment acquired through sponsorship will go to the RNLI unless the sponsor has a specific requirement..Local events, fundraisers and talks have been held, to include a local Christmas Fayre, running event and work presentation. Others are being planned for 2024. These generate sponsorship opportunities for businesses and individuals and provide the opportunity for others, both businesses and individuals, to donate directly to the RNLI through a just giving platform. Events include a 24 hour row, opportunities to row in the boat that the team will row across the Atlantic in, quiz nights, gala dinners and other social events. The events will involve the wider community with proceeds going directly to the RNLI as the designated charity. The events will help to promote health and wellbeing with a focus on rowing given that is the activity the team are undertaking when they row across the Atlantic.

Consultation with stakeholders

Current stakeholders are the RNLI and corporate sponsors as listed on our website https://www.oarsofthunder.co.uk/our-sponsors. E-mail exchanges and teams calls have taken place with sponsors who have provided cash and equipment to support the row. Details of the sponsorship packages are included here: https://www.oarsofthunder.co.uk/sponsor-us

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
20 March 2024

And signed on behalf of the board by:
Name: Sally Jane Crabb
Status: Director